APAC Realty has reported earnings of $11.3 million for the 1HFY2025 ended June 30, up 176.4% y-o-y.
The group’s revenue for the 1HFY2025 came in 28.8% y-o-y higher at $341.5 million, resulting in a profit after tax of $11.1 million, up 202.3% million y-o-y.
The group says that this threefold increase in profitability is driven primarily by robust activity in the new private residential segment during the period.
Revenue from new home sales more than doubled to $131.2 million, driven by a marked increase in transaction volumes, as developers sold 5,566 private residential units (including ECs) compared to 2,484 units in the same period last year.
Resale and rental revenue held steady at $206.7 million in 1HFY2025.
As a result, the group’s gross profit rose 46.2% y-o-y to $35.8 million in 1HFY2025.
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As at June 30, the group’s cash balance stood at $47.6 million. It generated a positive operating cash flow of $15.6 million during the period compared to a net cash outflow in the same period a year ago.
The board of directors has recommended an interim dividend of 2.70 cents per share, representing a payout ratio of 78.1%.
This uptick in Singapore’s private home market momentum is expected to sustain well into the second half of 2025 and into 2026, particularly as the government is expected to sustain a high level of private housing supply, the group says.
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Recent adjustments to the Seller’s Stamp Duty (SSD) framework are also expected to reduce speculative activity, even though the market impact is anticipated to be limited as most market participants are expected to be genuine owner-occupiers or long-term investors.
Shares in APAC Realty closed 1 cent higher or 1.60% up at 63.5 cents on Aug 8.
